Ralph Lauren partners with Franklin Venture to invest in consumer tech companies
Ralph Lauren Corp. is diving deeper into innovative consumer technology.
The fashion giant has entered into a limited partnership with asset manager Franklin Templeton to invest in innovative consumer technology companies, with a focus on women-led firms. Through the partnership, Ralph Lauren will make an undisclosed capital investment in Templeton’s Franklin Venture Partners unit, which focuses on mid- and late-stage private companies.
"At Ralph Lauren, the powerful combination of honoring our heritage while embracing innovation has guided our brand and business for decades," said Patrice Louvet, president and CEO, Ralph Lauren Corp. "Participating in opportunities like this one with Franklin Venture Partners is one example of how we are pursuing new pathways for innovation, and we are excited to support the growth of these companies and benefit from insights and technology that can help guide our company and our industry's future."
The partnership builds on Ralph Lauren’s minority investment in Natural Fiber Welding, a startup focused on turning natural fibers such as cotton into sustainable high-performance materials. Earlier this month, the company debuted the RLX Clarus Polo Shirt, made from what was described as “the world’s first cotton-based performance material.” The shirt, which made its debut at the Australian Open tennis tournament, was developed by NFW.
Most recently, Ralph Lauren unveiled a sustainably-minded temperature-responsive fabric that adapts to cooler temperatures by expanding and creating a layer of insulation. The company partnered with textile innovation company Skyscrape to bring the technology to market for Team USA’s parade uniform at the opening ceremonies of the upcoming Winter Games.
In addition to embracing innovation in materials, Ralph Lauren has also been doing the same in other areas of its business. In December, it ran a holiday-themed promotion on the popular gaming site Roblox.
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